The documents show that the restructuring experts want to continue paying the wages of the senior staff at the defunct exchange despite the fact that its funds are frozen and there is no clear record of who is owed what by the exchange. This is despite the fact that there is no clear record of who is owed what by the exchange.

The maintenance of payments for salaries

The collapse of the FTX exchange, which led to a freeze on its funds, may have resulted in the funds of approximately one million creditors, including users of cryptocurrencies, being frozen.

However, Edgar Mosley, the managing director of the restructuring consultancy firm Alvarez Marsal, which was hired to clean up the mess, has maintained that continuing to pay salaries will help preserve the resources and value of FTX's estate. This is despite the fact that Mosley's firm was hired to clean up the mess.

Edgar Mosley stated the following in his filling:

"The maintenance of the FTX estate's resources and value depends on the consistent payment of salaries," said the administrator of the FTX estate. Without it, I believe that even more employees may look for alternative employment opportunities, which would likely lead to a decline in the confidence of stakeholders in the ability of the Debtors to successfully reorganize."

Edgar insisted that the payments made to CEO Ray as well as the $975 hourly billing of Chief Administration Officer Kathryn Schultea, Chief Information Officer Raj Perubhatla, and Chief Financial Officer Mary Cilia are important in maintaining and administering what is left of the company while it is attempting to repay its debts. These three executives are Chief Administration Officer Kathryn Schultea, Chief Information Officer Raj Perubhatla, and Chief Financial Officer Mary Cilia.

According to the document that was submitted to the court, non-employee directors who are hired to ensure proper governance during the insolvency process will earn a fee of $50,000 per month. Additionally, they are eligible to receive a variety of other allowances.

Even though the fees seem to grab the attention of the general public, they are a drop in the ocean when compared to the costs associated with the world of expensive corporate restructuring. The total amount of money that the FTX is said to owe to its principal creditors is approximately $3.1 billion. Ray's total fees only account for a small portion of this total amount of money.

Mosley also suggested that FTX should go ahead and pay an additional $17.5 million to its critical contractors, particularly those contractors that will ensure the security of the crypto assets is maintained in order to prevent hacking and the theft of the assets.